Generalized Lotka-Volterra equations and the mechanism of technological substitution

Generalized Lotka-Volterra equations and the mechanism of technological substitution

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Article ID: iaor1988900
Country: United States
Volume: 35
Issue: 4
Start Page Number: 319
End Page Number: 326
Publication Date: Jul 1989
Journal: Technological Forecasting & Social Change
Authors:
Keywords: economics
Abstract:

This paper demonstrates that if technological substitution is viewed as the result of competition between old and new technology in which new technology wins, and if generalized Lotka-Volterra equations are taken to describe this competition, then various models of technological substitution can be obtained as very special cases. It is argued that this could lead to a better understanding of the substitution process itself.

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